Interim Results

Deutsche Equity Income Trust PLC
23 May 2001
                                       
                                       
                       DEUTSCHE EQUITY INCOME TRUST PLC
                                       
                      PRELIMINARY ANNOUNCEMENT OF RESULTS
                     FOR THE HALF YEAR ENDED 31 MARCH 2001
                                       
EXTRACT FROM THE CHAIRMAN'S STATEMENT

Performance  for  the first six months was satisfactory, with  our  net  asset
value  per  share declining only 2.0% whereas the FT-SE All-Share  Index  fell
10.5%.  Our share price fell 1.6%, the discount of share price to asset  value
narrowing  slightly.  The  period was a good  one  for  income  funds  as  the
technology related sectors of the market, which typically offer little in  the
way of dividend yield, continued their poor performance; meanwhile stocks with
above  average  yields  and relatively secure earnings  generally  fared  much
better.

Revenue available to shareholders rose by 32.6% compared with the same  period
last  year. This was partly because of a shift in our investments to a  higher
yielding  'old  economy' shares but was also influenced by the timing  of  the
dividends  that  we  received.   We do not expect  that  our  income  for  the
financial  year to 30 September as a whole will increase by a similar  amount.
We  are paying an interim dividend of 2.50p per share, 2.0% higher than  last
year.  The dividend will be paid on 26 June 2001 to those shareholders on  the
register at the close of business on 1 June 2001.
                                                                              
                                                            J. Leigh Pemberton
                                                                      Chairman

The  interim  dividend of 2.50p per share will be paid  on  26  June  2001  to
shareholders on the register at the close of business on 1 June 2001.

The financial information for the year ended 30 September 2000 is derived from
the statutory accounts for 2000 which have been delivered to the Registrar  of
Companies.  The Auditors have reported on the 2000 accounts; their report  was
unqualified and did not contain a statement under section 237(2) or (3) of the
Companies Act 1985.

The  half-yearly  report will be sent to shareholders and will  also  be  made
available to the public at the Company's registered office.



By order of the Board                             Registered Office:
M Pope                                            One Appold Street
Secretary                                         London EC2A 2UU

                                                  23 May 2001

For further information please contact:

Graham Ashby or James Fox, at Deutsche Asset Management Tel: [phone]


                                                                 
Net Asset Value per Ordinary Share

Basic:                        31 March 2001  30 September 2000  31 March 2000
                                  256.8p           262.0p           258.9p
                                                                 
Statement of total return (incorporating the revenue account*)
                                                                 
                  Six months to 31      Year to 30           Six months to 
                     March 2001       September 2000         31 March 2000
             Revenue Capital Total Revenue Capital Total Revenue Capital Total
              £'000   £'000  £'000  £'000   £'000  £'000  £'000   £'000  £'000
                                                                 
(Losses)/gains        
on investments    -  (2,337)(2,337)     -   8,999  8,999      -   7,583 7,583 
                                                                        
Income        1,844       -  1,844  3,876       -  3,876  1,552       - 1,552
Investment           
management fee (463)      -   (463)  (928)      -   (928)  (460)      -  (460)
Other expenses  (84)      -    (84)  (198)      -   (198)  (107)      -  (107)

Net return before                                             
finance costs
and taxation  1,297  (2,337)(1,040) 2,750   8,999 11,749    985   7,583 8,568
Interest payable (3)      -     (3)   (32)      -    (32)   (13)      -   (13)

Return on ordinary                                               
activities
before tax    1,294  (2,337)(1,043) 2,718   8,999 11,717    972   7,583 8,555
Tax on ordinary       
activities       (5)      -     (5)   (10)      -    (10)     -       -     -

Return on ordinary                                               
activities after 
tax for the period 
attributable
to equity            
shareholders  1,289  (2,337)(1,048) 2,708   8,999 11,707    972   7,583 8,555
Dividends in 
respect of
equity shares  (994)      -   (994)(2,922)      - (2,922)  (974)      -  (974)
                              
Transfer to/(from)                                             
reserves after
interim dividend
of 2.50p 
(2000 - 2.45p)  295  (2,337)(2,042)  (214)  8,999  8,785     (2)  7,583 7,581 
                                      
**Return per ordinary                                              
share:         3.24p (5.88p)(2.64p)  6.91p 22.95p 29.86p  2.52p 19.62p 22.14p
                                                  
                                                                 
*The revenue column of this statement is the profit and loss account of the
company.

**The return per ordinary share for 2000 is based on the weighted average
number of ordinary shares in issue during the period.                         
                                       
All revenue and capital items in the above statement derive from continuing
operations.
No operations were acquired or discontinued in the period.
                                                                 
The statement of total return is unaudited.  The comparative figures in
respect of the year to 30 September 2000 are derived from the full accounts
which have been delivered to the Registrar of Companies and which contain an
unqualified audit report.